Mikhail Corporation Has the Following Sales Forecasts for the First

question 135

Multiple Choice

Mikhail Corporation has the following sales forecasts for the first three months of 2018: $$\begin{array} { l r } \text { Month } & \text { Sales } \\\text { January } & \$ 36,000 \\\text { February } & 24,000 \\\text { March } & 40,000\end{array}$$ Sixty-five percent of sales are collected in the month of the sale and the remainder are collected in the following month. Mikhail will borrow from its bank to maintain its minimum cash balance.
$\begin{array} { l } \text { Accounts receivable balance (January 1, 2018) }&\$16,000\\ \text {Cash balance (January 1, 2018) }&12,000\\ \text {Minimum cash balance needed }&20,000\\\end{array}$

What is the cash balance at the end of January, assuming that cash is received only from customers and that $48,000 is paid out during January?

• A)$19,400
• B)$23,400
• C)$20,000
• D)$21,000

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Definitions:

Postmodern Work

Work characterized by flexible, temporary, and decentralized arrangements, contrasting with traditional, hierarchical, and permanent job structures.

Valued Organizational Objects

Items or symbols within an organization that hold significant importance or meaning, contributing to its culture and identity.

Those in Authority

Individuals or groups who hold power and control in a hierarchical structure, responsible for making decisions and enforcing rules within a community or organization.

Sense of Agency

The subjective feeling of control or influence one has over actions and their outcomes in the environment.